How You Can Grow Your Social Security Benefits Beyond Retirement Age
Reading Time: 2 MinutesLast Updated: November 3, 2023
For more and more Americans, reaching retirement age no longer means the end of an active working life. Many people are choosing to work past the age of 65, according to the Department of Labor’s Bureau of Labor Statistics.
If you’re willing and able, maintaining gainful employment later in life could go a long way toward ensuring a secure future for you and your family. Besides providing you with additional income to pay your bills, extending your employment or working for yourself could boost your lifetime Social Security benefits.
Here’s how:
Whether you’re still working or not, waiting to claim your Social Security retirement benefits could grow them significantly. Through delayed retirement credits, your monthly benefit amount increases for each year you wait between your full retirement age and 70. Full retirement age is between 65 and 67, depending on when you were born. To learn more about delayed retirement credits, please visit our Retirement Benefits page.
You get credits on your earnings record for each year of additional work income. Once you start receiving retirement benefits, we’ll automatically review your earnings record each year to determine if you’re entitled to an adjustment. When we calculate your retirement benefit amount, we use your best 35 years of earnings. We’ll increase your benefit amount if your new year of earnings is higher than one of the years we used to calculate your initial benefit amount. To see how we calculate your benefits, see our publication, Your Retirement Benefit: How It’s Figured.
An increased benefit amount for yourself could mean more support for your family, too, through Social Security spousal benefits, child benefits, and survivor benefits.
We also encourage you to set up your own online my Social Security account so you can verify your lifetime earnings record, check the status of an application for benefits, and manage them after you’re receiving them. You can create your personal my Social Security account today.
Social Security is committed to helping you prepare for a secure today and tomorrow for you, your family, and future family. You can access all of our retirement resources on our Retirement Benefits page.
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Tags: my Social Security, my Social Security account, retirement, retirement benefits, Social Security benefits, SSA, survivors benefits
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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Amorlinda G.
How can i change my new address.
Ray F.
If you already receive benefits (retirement, survivors, or disability) and you have a bank account, you can start or update your direct deposit by using your personal my Social Security account. Thanks!
Doris S.
I AM RECEIVING SOCIAL SECURITY UNDER SPOUSAL BENEFITS. I AM NO LONGER WORKING. I AM 67 YEARS OLD. IS THERE ANY CHART THAT I CAN GET TO SHOW ME HOW MUCH I WOULD RECEIVE IF I OPTED TO RECEIVE IT NOW AND ALSO ESTIMATES FOR THE FUTURE?
Ray F.
Hello Doris, we have a variety of calculators to help you plan for the future. Which calculator you choose depends on what you want to do. Also, you can create a my Social Security account online. With your personal my Social Security account, you can verify your earnings, get your Social Security Statement, and much more.
In April we celebrate “National Social Security Month”, see what you can do online at http://www.SocialSecurity.gov. Thanks!
Gene H.
I will be 66 next month, which is my full retirement age. By delaying taking benefits until age 70, I understand my benefits would increase 32%. With that in mind, should I expect my benefits to grow 8% for each of the 4 years I delay? Your retirement estimate calculator does not appear to reflect an 8% increase for age 66 to 67 and so on. Also, must I have earnings between age 66 and 70 that exceeds my top 35 years of earnings in order to enhance my benefits if delaying to take at 70?
Ray F.
Hi Gene, please go to: Early or Late Retirement?. Hope this helps!
Magda S.
I have a Windfall reduccion in my SS Benefit for only ONE year short of 30 years of Considerable Earnings. Now that I work Freelancing and paying Social Security Taxes and last year I made an amount above the Considerable earnings for 2017 can I add that year to my total to make the 30 years? Therefore not to have any reduction?
Stephen M.
I began taking a “spousal benefit” after my 66th birthday. When I reach 70, and begin to take my own SS benefits, will the money or time I took “spousal benefits” affect my post-70 benefit?
Gwendolyn M.
This new website is informative, however, I would like to know more about the 2% increase which began in January of this year and also the one last year, 2017. I did not receive and increase for either year and I would like to know why?
Jon G.
I am 70.5 and started collecting benefits at 66 years. If I keep working until 80, and keep paying into SS, will my benefits increase any more than if I wasn’t working and paying into the system?
linda e.
Are you saying that if my earnings are not higher than a previous year’s, I receive no benefit from my work?
Donna G.
With all that is happening in the world of cyber space. I don’t want to have my most important information online. Please send me a hard copy of any information that I am entitled to know.
Best regards
Kumutha S.
I cannot open my social security account online account.
Ray F.
If you are unable to create an account or encounter a problem with your my Social Security account, you may:
•Call us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m. At the voice prompt, say “helpdesk”; or
•Contact your local Social Security office. Thanks!